Safehold Inc. (NYSE:SAFE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Safehold Inc. (NYSE:SAFE) have earned a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $28.22.

A number of research firms have commented on SAFE. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Thursday, September 19th. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Wedbush reaffirmed a “neutral” rating and set a $23.00 price target (down previously from $25.00) on shares of Safehold in a report on Monday. Royal Bank of Canada boosted their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Mizuho raised their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st.

Institutional Investors Weigh In On Safehold

A number of hedge funds have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its position in Safehold by 7.0% during the first quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after purchasing an additional 949 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Safehold during the 1st quarter valued at approximately $1,979,000. Illinois Municipal Retirement Fund grew its stake in shares of Safehold by 4.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after acquiring an additional 1,156 shares during the period. Sei Investments Co. increased its holdings in Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after acquiring an additional 249,500 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in Safehold by 6.0% during the 1st quarter. Russell Investments Group Ltd. now owns 190,667 shares of the company’s stock worth $3,928,000 after acquiring an additional 10,787 shares during the period. Institutional investors own 70.38% of the company’s stock.

Safehold Stock Performance

Shares of SAFE stock opened at $20.67 on Wednesday. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.16 and a beta of 1.68. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. Safehold has a one year low of $16.27 and a one year high of $28.80. The company’s 50-day moving average is $24.79 and its 200 day moving average is $22.04.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts expect that Safehold will post 1.57 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.43%. Safehold’s payout ratio is presently 41.18%.

About Safehold

Safehold Inc (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.